Used electric vehicles have reached near price parity with petrol-powered cars in the UK for the first time, signaling a major shift in the used car market as EV values fall and demand for second-hand electric models accelerates.
Data from Autorola’s Q1 2026 wholesale market analysis shows average used petrol car prices rose 5.1% from the previous quarter, increasing by £768 to £15,727. In contrast, average used EV prices declined 9.1%, falling by £1,558 to £15,486 over the same period.
That left a gap of just £241 between used petrol and electric vehicles—the narrowest price difference ever recorded by Autorola in its used vehicle market data.
Despite the shrinking gap, used EVs sold during the quarter were generally newer and had covered fewer miles than comparable petrol cars. Autorola said the average used EV was 32 months old with 20,002 miles, while the average petrol vehicle was 37 months old and had 22,606 miles.
The figures suggest buyers are gaining access to newer, lower-mileage electric vehicles at prices close to or below equivalent combustion-engine models, reflecting changing supply and demand dynamics as more EVs enter the wholesale market.
Demand for used EVs also rose sharply during the quarter. Autorola reported that electric vehicles accounted for 10.4% of its used car sales in Q1 2026, nearly doubling from 5.4% in the fourth quarter of 2025.
Neil Frost, managing director of Autorola UK, said bidding activity for used EVs on the company’s online marketplace increased significantly, with sales almost doubling in just three months.
Frost attributed the trend to a combination of rising EV supply following March’s new registration plate change and higher petrol prices, which may be pushing more buyers toward electric alternatives.
He said the latest data marks a turning point for the used car market, with improved affordability and stronger consumer demand helping drive electric vehicles further into the mainstream.
While price parity between EVs and petrol models has previously been seen in the new car market, Frost said this is the first clear sign of similar convergence in the used vehicle sector, indicating a broader structural shift in market behavior.
